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Steel Connect Announces Adjournment of Annual Meeting
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
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Rhea-AI Summary
Steel Connect, Inc. (NASDAQ: STCN) has announced the adjournment of its 2021 Annual Meeting of Stockholders, which will reconvene on October 14, 2022, at 12:00 p.m. Eastern time. The meeting will be conducted virtually. Stockholders are encouraged to vote on the proposals outlined in the Proxy Statement, which can be accessed online. Proxies submitted prior to adjournment will be counted at the reconvened meeting. All votes must be received by 11:59 p.m. on October 13, 2022 to be considered.
Positive
The reconvening of the Annual Meeting allows stockholders to further engage in corporate governance.
No additional business will be conducted, ensuring focused discussion on key proposals.
Negative
Proposals are still pending approval, indicating uncertainty regarding future corporate direction.
SMYRNA, Tenn.--(BUSINESS WIRE)--
Steel Connect, Inc. (NASDAQ: STCN), a holding company (the “Company” or “Steel Connect”), announced today that it intends to convene and adjourn, without conducting any other business, the Company’s 2021 Annual Meeting of Stockholders (the “Annual Meeting”).
The Annual Meeting will reconvene on October 14, 2022 at 12:00 p.m., Eastern time, and will be accessible only through the Internet at www.virtualshareholdermeeting.com/STCN2021. The record date for stockholders entitled to vote at the Annual Meeting remains August 19, 2022.
During the period of the adjournment, the Company will continue to solicit proxies from its stockholders with respect to the proposals set forth in the Proxy Statement, as it may be supplemented. Proxies previously submitted in respect of the Annual Meeting will be voted at the reconvened Annual Meeting unless properly revoked.
Steel Connect’s stockholders are reminded that their vote is important, no matter how many or how few shares of stock they own. The Company’s Board of Directors recommends that the Company’s stockholders vote “FOR” each of the proposals at the reconvened Annual Meeting by completing and returning their proxy card, or by submitting their proxy by telephone or over the Internet. All votes must be received by 11:59 p.m., Eastern time, on October 13, 2022 to be counted.
If you would like copies of the Definitive Proxy Statement filed by the Company in connection with the Annual Meeting, have questions about any of the proposals, or require assistance voting your shares, please contact the proxy solicitor assisting us on this matter:
Mackenzie Partners, Inc. 1407 Broadway, 27 Floor
New York, New York 10018
Banks and Brokers Call: (212) 929-5500
All Others Call Toll-Free: (800) 322-2885
Email: proxy@mackenziepartners.com
About Steel Connect, Inc.
Steel Connect, Inc. is a holding company with a wholly owned subsidiary, ModusLink Corporation, that serves the supply chain management markets.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed acquisition of Steel Connect by Steel Partners. In connection with the proposed Merger, Steel Connect will file with the SEC and furnish to Steel Connect’s stockholders a proxy statement and other relevant documents. This communication does not constitute a solicitation of any vote or approval. BEFORE MAKING ANY VOTING DECISION, STEEL CONNECT’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.
Investors will be able to obtain a free copy of the proxy statement and other relevant documents filed by Steel Connect with the SEC at the SEC’s website at www.sec.gov. In addition, investors may obtain a free copy of the proxy statement and other relevant documents from Steel Connect’s website at www.steelconnectinc.com or by directing a request to Steel Connect, Inc., Attn: Chief Financial Officer, 2000 Midway Lane, Smyrna, Tennessee 37167 or by calling (914) 461-1276.
Participants in the Solicitation
Steel Connect and its directors, executive officers and certain other members of management and employees of Steel Connect may be deemed to be “participants” in the solicitation of proxies from the stockholders of Steel Connect in connection with the proposed Merger. Information regarding the interests of the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of Steel Connect in connection with the proposed Merger, which may be different than those of Steel Connect’s stockholders generally, are set forth in the proxy statement and the other relevant documents to be filed with the SEC. Stockholders can find information about Steel Connect and its directors and executive officers and their ownership of Steel Connect common stock in the proxy statement, and additional information about the ownership of Steel Connect common stock by Steel Connect’s directors and executive officers is included in their Forms 3, 4 and 5 filed with the SEC.
